Lucid Group (NASDAQ:LCID) Announces Earnings Results
Lucid Group (NASDAQ:LCID) announced its earnings results, reporting a loss of ($0.24) EPS, missing estimates by ($0.02). Revenue was $235.05 million, below the expected $250.50 million. The company had a negative net margin of 406.63% and a negative return on equity of 74.67%. Despite a 36.1% year-over-year revenue increase, shares fell 1.5% to $2.33. Analysts have mixed ratings, with an average target price of $2.68 and a consensus rating of "Hold."
Lucid Group (NASDAQ:LCID - Get Free Report) released its earnings results on Tuesday. The company reported ($0.24) EPS for the quarter, missing the consensus estimate of ($0.23) by ($0.01), Zacks reports. The firm had revenue of $235.05 million during the quarter, compared to the consensus estimate of $250.50 million. Lucid Group had a negative net margin of 406.63% and a negative return on equity of 74.67%. Lucid Group's quarterly revenue was up 36.1% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.27) earnings per share.
Lucid Group Stock Down 1.5 %
Shares of NASDAQ LCID opened at $2.33 on Wednesday. The company has a 50 day simple moving average of $2.35 and a 200 day simple moving average of $2.55. The company has a debt-to-equity ratio of 0.77, a current ratio of 3.71 and a quick ratio of 3.26. Lucid Group has a 1 year low of $1.93 and a 1 year high of $4.43. The firm has a market cap of $7.05 billion, a PE ratio of -1.74 and a beta of 0.88.
Analyst Ratings Changes
A number of research analysts recently issued reports on LCID shares. Cantor Fitzgerald reissued a "neutral" rating and issued a $3.00 price objective on shares of Lucid Group in a research note on Thursday, April 3rd. Redburn Atlantic lowered Lucid Group from a "neutral" rating to a "sell" rating and decreased their price target for the company from $3.50 to $1.13 in a research note on Monday, February 24th. Robert W. Baird upped their price objective on Lucid Group from $2.00 to $3.00 and gave the stock a "neutral" rating in a research report on Monday, April 21st. Benchmark reaffirmed a "buy" rating and issued a $5.00 price objective on shares of Lucid Group in a research note on Friday, March 7th. Finally, Morgan Stanley raised Lucid Group from an "underweight" rating to an "equal weight" rating and set a $3.00 target price for the company in a research note on Tuesday, March 18th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Lucid Group currently has an average rating of "Hold" and an average price target of $2.68.
Get Our Latest Report on LCID
Lucid Group Company Profile
(Get Free Report)Lucid Group, Inc a technology company, designs, engineers, manufactures, and sells electric vehicles (EV), EV powertrains, and battery systems. It also designs and develops proprietary software in-house for Lucid vehicles. The company sells vehicles directly to consumers through its retail sales network and direct online sales, including Lucid Financial Services.
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